To join the live conference call, please dial 877-405-1216 (U.S. and Canadian callers) or +1 201-689-8336 (international callers outside of the U.S. and Canada) 10 to 15 minutes prior to the scheduled call time. Participants can also click this link for instant telephone access to the event. The link will become active approximately 15 minutes prior to the start of the conference call. The conference ID# is 13753785. Las Vegas, Nevada, May 07, 2025 (GLOBE NEWSWIRE) -- High Roller Technologies ("High Roller" ...

Market Performance - Market indexes experienced a decline, with the Dow dropping 389 points (-0.95%), S&P 500 down 43 points (-0.77%), Nasdaq falling 154 points (-0.87%), and Russell 2000 losing 21 points (-1.05%) [1] Company Earnings Reports - Advanced Micro Devices (AMD) reported earnings of 96 cents per share, beating estimates by 3 cents, with revenues of $7.44 billion surpassing the projected $7.12 billion. Forward revenue guidance was raised to $7.4 billion [3] - Wynn Resorts (WYNN) reported earnings of $1.07 per share, missing the estimate of $1.22, and revenues of $1.7 billion, slightly below the $1.73 billion estimate. The company announced a share buyback program, but faces challenges due to tariff concerns affecting its domestic locations [4] - Rivian Automotive (RIVN) posted a narrower loss of 41 cents per share compared to the expected 80 cents, with revenues of $1.24 billion exceeding the $1.02 billion estimate. The gross profit of $206 million positions the company favorably with Volkswagen, which has invested in Rivian [5] Upcoming Earnings Expectations - The Walt Disney Co. (DIS) is expected to report fiscal Q2 earnings with a projected decline of 2.48% in earnings growth, while top-line growth is anticipated at 4.77%. The Parks division and the film "Thunderbolts" are expected to attract significant interest [6] Federal Reserve Meeting - The Federal Open Market Committee (FOMC) meeting is concluding, with no expected change in interest rates. Fed Chair Jerome Powell will address questions regarding the timeline for potential rate reductions and his position before the end of his term in 2026 [7]

Wynn Resorts (WYNN) Q1 2025 Earnings Call May 06, 2025 04:30 PM ET Company Participants Julie Cameron-Doe - CFOCraig Billings - CEOBrian Gullbrants - Chief Operating Officer - North American OperationsDavid Katz - Managing DirectorStephen Grambling - Managing DirectorRobin Farley - Managing DirectorJohn Decree - Director - Equity Research Conference Call Participants Carlo Santarelli - AnalystShaun Kelley - Senior Research Analyst & MD - Gaming, Lodging & Leisure EquitiesBrandt Montour - Director, Equity Re ...

Financial Data and Key Metrics Changes - The company reported adjusted property EBITDA of $223.4 million for Wynn Las Vegas on operating revenue of $625.3 million, resulting in an EBITDA margin of 35.7% [16] - Total casino revenues increased by 4% year-over-year, excluding the Super Bowl impact [11] - Adjusted property EBITDA for Macau operations was $252.1 million on operating revenue of $865.9 million, with an EBITDA margin of 29.1% [17] Business Line Data and Key Metrics Changes - In Las Vegas, slot volumes increased by approximately 3%, contributing to overall revenue growth [12] - Encore Boston Harbor generated $57.5 million in adjusted property EBITDA on revenue of $209.2 million, with an EBITDA margin of 27.5% [17] - Macau's mass drop was up year-over-year, while VIP turnover increased significantly, although lower VIP hold impacted EBITDA by about $38 million [13][18] Market Data and Key Metrics Changes - In Las Vegas, RevPAR for April was slightly up from 2024, with healthy group activity and slot handle [9] - Macau's mass drop during Golden Week showed improvement compared to the previous year, with full hotel occupancy [10] - The company noted that international visitation to Las Vegas is currently at 9% of room nights, which can be backfilled easily [32] Company Strategy and Development Direction - The company is focused on maximizing EBITDA and maintaining a healthy margin profile despite competitive pressures in Macau [13] - The opening of the Gourmet Pavilion Food Hall at Wynn Palace has driven increased visitation, with 2,400 additional daily restaurant covers [14] - The company is committed to returning capital to shareholders, having repurchased $200 million in stock during Q1 and an additional $100 million in Q2 [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainty in the operating environment due to tariffs but noted that the business in Vegas and Macau is holding up well [10] - The company remains optimistic about future demand, particularly in group and convention business, despite short booking windows [9][34] - Management expressed confidence in the upcoming Wynn on Marjan Islands project, viewing it as a compelling development opportunity [15] Other Important Information - The company expects total CapEx spend in 2025 to range between $250 million to $300 million, with a significant portion related to concession commitments [20] - The company has a strong liquidity position with $3.2 billion in global cash and revolver availability as of March 31 [20] Q&A Session Summary Question: Changes in promotions and discounts in Las Vegas - Management indicated that the observed changes correlate strongly with ADR, particularly influenced by the Super Bowl comparison [25] Question: Thoughts on international inbound and VIP exposure - Management noted that high-end visitation remains stable, while international visitation has decreased but does not significantly impact the business [32] Question: Competitive environment in Macau - Management described the competitive landscape as stable but emphasized the importance of service quality and product offerings to remain competitive [44][108] Question: CapEx projects on hold due to tariffs - The majority of the delayed CapEx is related to the Encore Tower remodel, with a total of $375 million impacted [59] Question: Group business outlook for 2026 - Management reported strong demand for group bookings in 2026, attributing it to large events scheduled for that year [62]

Group 1 - MGM is set to open a new project in Osaka, Japan in 2030, which is expected to significantly impact the global casino landscape by introducing mega-city-sized complexes [1] - Howard Jay Klein, with 30 years of experience in major casino operations, emphasizes the importance of management quality in investment decisions within the casino and entertainment sectors [1] - The House Edge, led by Klein, provides actionable research for investing in the casino, online betting, and entertainment industries, leveraging an extensive intelligence network across the US gambling sector [1]

Core Insights - Red Rock Resorts, Inc. (RRR) reported strong first-quarter 2025 results, with both earnings and revenues exceeding the Zacks Consensus Estimate, showing year-over-year growth [1][2] Financial Performance - Adjusted earnings per share (EPS) for Q1 2025 were 80 cents, surpassing the Zacks Consensus Estimate of 47 cents and up from 68 cents in the prior-year quarter [2] - Quarterly revenues reached $497.9 million, exceeding the consensus mark of $494 million by 0.8% and reflecting a 1.8% increase year-over-year [2] - Revenues from Las Vegas operations totaled $495 million, a 1.9% increase from $485.6 million in the prior-year quarter, with adjusted EBITDA for this segment at $235.9 million, up 2.7% year-over-year [3] - Selling, general and administrative expenses were $104.7 million, slightly down from $104.8 million in the prior-year quarter, and net income increased to $86 million from $78.4 million [4] - Adjusted EBITDA for the first quarter was $215.1 million, compared to $209.1 million in the prior-year quarter [5] Financial Position - As of March 31, 2025, RRR had cash and cash equivalents of $150.6 million, down from $164.4 million as of December 31, 2024, with outstanding debt remaining flat at $3.4 billion [6] Market Position - Red Rock Resorts currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook in the market [7]

Core Insights - Red Rock Resorts reported revenue of $497.86 million for the quarter ended March 2025, reflecting a 1.8% increase year-over-year and a surprise of +0.82% over the Zacks Consensus Estimate of $493.82 million [1] - The company's EPS was $0.80, up from $0.68 in the same quarter last year, resulting in a significant EPS surprise of +70.21% compared to the consensus estimate of $0.47 [1] Revenue Breakdown - Casino operating revenues were $333.25 million, exceeding the average estimate of $320.70 million, marking a year-over-year increase of +5.2% [4] - Room operating revenues totaled $50.17 million, below the average estimate of $54.99 million, representing a year-over-year decline of -5.1% [4] - Food and beverage operating revenues were $89.27 million, slightly below the estimated $91.49 million, showing a -4.3% change year-over-year [4] - Other operating revenues reached $25.17 million, also below the average estimate of $26.27 million, indicating a -2.7% year-over-year change [4] Net Revenue and EBITDA - Net revenue from Las Vegas operations was $494.95 million, surpassing the average estimate of $489.69 million, with a year-over-year increase of +1.9% [4] - Net revenue from corporate and other operations was $2.91 million, below the average estimate of $3.20 million, reflecting a -12.7% year-over-year change [4] - Adjusted EBITDA for Las Vegas operations was $235.90 million, exceeding the average estimate of $217.26 million [4] - Adjusted EBITDA for corporate and other operations was -$20.82 million, slightly worse than the average estimate of -$20.35 million [4] Stock Performance - Over the past month, shares of Red Rock Resorts have returned -0.9%, compared to a -0.7% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [3]

Red Rock Resorts (RRR) Q1 2025 Earnings Call May 01, 2025 04:30 PM ET Company Participants Stephen Cootey - Executive VP, CFO & TreasurerScott Kreeger - PresidentLorenzo Fertitta - Vice Chairman of the BoardJohn Decree - Director - Equity ResearchBarry Jonas - Managing DirectorDavid Katz - Managing DirectorSteven Wieczynski - Managing DirectorFrank Fertitta - Chairman & CEO Conference Call Participants Carlo Santarelli - AnalystShaun Kelley - Senior Research Analyst & MD - Gaming, Lodging & Leisure Equities ...

California casino elevates floor performance, modernizes the player experience and enhances loyalty program via IGT ADVANTAGE casino management system LONDON, May 1, 2025 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that it recently signed a multi-year systems agreement with Red Earth Casino in Thermal, Calif. to displace a competing casino management system ("CMS") with the award-winning IGT ADVANTAGE™ CMS. In addition to deploying IGT ADVANTAGE, Red Earth Casino wi ...

Financial Data and Key Metrics Changes - In the first quarter, Las Vegas operations achieved net revenue of $495 million, up 1.9% year-over-year, and adjusted EBITDA of $235.9 million, up 2.7% year-over-year [7][8] - Consolidated net revenue for the first quarter was $497.9 million, an increase of 1.8% from the previous year, with adjusted EBITDA of $215.1 million, up 2.8% year-over-year [8] - The adjusted EBITDA margin for Las Vegas operations was 47.7%, an increase of 34 basis points, while the consolidated adjusted EBITDA margin was 43.2%, up 42 basis points [7][8] Business Line Data and Key Metrics Changes - The hotel division recorded its second highest first quarter revenue and profit, driven by increased occupancy [9] - The food and beverage division achieved near record performance, supported by higher cover counts across outlets [9] - Group sales and catering faced challenges but are expected to improve throughout 2025 [10] Market Data and Key Metrics Changes - The Durango Casino Resort has added over 95,000 new customers to the database and is on track to become one of the highest margin properties, generating a return net of cannibalization of nearly 16% [4][5] - The Las Vegas Valley is projected to add approximately 34,000 new households due to demographic growth, particularly in Summerlin [5] Company Strategy and Development Direction - The company is focused on reinvesting in existing properties to enhance amenities while maintaining operational discipline [6] - Expansion plans for Durango include adding over 25,000 square feet of casino space and a new parking garage [5][6] - The company is also investing in Sunset Station and Green Valley Ranch properties to capture growth in Henderson [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business prospects moving forward, citing strong customer engagement and robust spending [10] - The company anticipates full revenue recovery from cannibalization effects over the next couple of years [5] - Management highlighted the resilience of the Las Vegas locals market, which has historically performed well during recessions [38] Other Important Information - The company declared a special cash dividend of $1 per Class A common share, reflecting confidence in the business model and market resilience [17] - Capital expenditures for 2025 are expected to be between $350 million and $400 million, down $25 million from previous estimates [12] Q&A Session Summary Question: OpEx growth and flow-through in Las Vegas - Management noted subdued OpEx growth with a flow-through above 60%, attributed to better sports win performance and flat COGS [20][22] Question: Backfill efforts at Red Rock - Management indicated that cannibalization is expected to be about 10% and they are ahead of schedule in backfilling revenue [27] Question: Special dividend and capital allocation - The special dividend reflects a balanced approach to long-term growth and shareholder returns, with ongoing evaluations of capital allocation [32][34] Question: Resilience of the Las Vegas locals market - Management emphasized the market's resilience during past recessions and its ability to maintain consistent visitation [38] Question: Construction environment and cost management - Management is actively managing procurement to mitigate impacts from tariffs and expects minimal material impact on current projects [42][48] Question: Non-gaming spend trends - Non-gaming spend remains stable, with food and beverage covers up despite slight revenue decline [78][80] Question: California-based customer demand - Management reported stable visitation from California, with gas prices making travel to Las Vegas still affordable [91][92]